Question

Who is entitled to the salvage of property after a total loss has been paid under the terms of an insurance policy?

1) Beneficiary
2) Insurer
3) Agent
4) Insured

Answer 1

After a total loss has been paid under the terms of an insurance policy, the insured is entitled to the salvage of the property.

Step-by-step explanation:

After a total loss has been paid under the terms of an insurance policy, the insured is entitled to the salvage of the property. The salvage refers to the remaining value of the property after the loss has occurred. It is the insured's right to either keep the salvaged property or dispose of it as they see fit.